24
Jun
CML has positive predictions for mortgage market
The Council of Mortgage Lenders (CML) has suggested that the
outlook for the UK mortgage market is far more positive than
previously predicted.
In its forecasts for housing transactions and gross lending, the
group is expecting 700,000 transactions and £145 billion of
gross lending to take place.
The outlook for net lending is even more positive, the CML
predicts, as it is though that it will only fall by around £5
billion instead of the £25 billion that was initially
anticipated.
As a result, those making a property purchase and who are looking
to take out a mortgage could benefit from the lower interest
rates.
It was stated by the CML: "The raft of measures taken by the
authorities have stabilised the economy and will sow the seeds for
a recovery over time, including in the housing market."
Meanwhile, managing director of FirstRungNow.com Helen Adams
confirmed recently that first-time buyers are discovering that
there are now more loans available for them than there have been in
recent times.
